John Bollinger, who at the end of August predicted a drop in quotations, now gave an optimistic forecast for the rate of the first cryptocurrency.
Renowned analyst John Bollinger believes that bitcoin returned to a bullish trend after the collapse on September 7, when the price of bitcoin dropped by 8.5 thousand in an hour and a half, to $ 42.8 thousand for the first time since mid-August.
The analyst wrote on Twitter that he is now optimistic about the first cryptocurrency.
Now bullish on $BTCUSD, good risk/reward setup, first target the upper bband, progressive stop under today’s low.
— John Bollinger (@bbands) September 8, 2021
“Now there is a bullish trend for the BTC / USD pair. Good level of risk and reward, ”the analyst said.
Bollinger is the creator of the Bollinger Bands indicator, which is included in the basic packages of technical instruments on trading platforms.
At the end of August, when Bitcoin exceeded $ 50,000 for the first time since May, Bollinger warned the holders of the main cryptocurrency that they should closely monitor the quotes. Then the analyst advised long-term holders to hedge and lock in some of the profits.
Time to pay attention: $BTCUSD Watch carefully, maybe take some profits or hedge a bit… Aggressive traders can think about putting out some shorts. Hodlers can look can look at add at lower levels if we see them. No confirmation yet, just be on the alert. #Bitcoin
— John Bollinger (@bbands) August 24, 2021
Bollinger also argued that in the future there may be a decrease in the price of bitcoin, which can be used for additional purchases. The analyst recommended to aggressive traders to set short positions.
